The Anonymous Widower

Peer-To-Peer Lending To Be Allowed in ISAs

The blog on Zopa has just reported that peer-to-peer lending will be allowed in the new ISAs. These new ISAs were announced in the Budget. Here’s part of the blog post.

Fantastic news for savers today as peer-to-peer lending will soon be included in ISAs as announced by George Osborne in the Budget today. The peer-to-peer ISA is an extremely exciting saving option for UK savers – enabling them to grow their money much faster, with reliable and safe returns.

By lending through Zopa with an ISA, UK savers will be able to make at least 2.5 times more interest than the sub 1.6% cash ISAs from banks with the same tax free benefit. Unlike other riskier stocks and shares ISAs, a more reliable and predictable Zopa ISA would allow every saver to become a millionaire under 30 years at the current rate of 5% if they used their full ISA allowance and would double their savings to £2m by saving for a further 11 years. Meaning that by 2044 you could be aZopa millionaire with over £649,000 in interest alone!

So after annoying insurance fat cats earlier, he’s now produced a nasty little surprise for that wunch of bankers, who like to sell underperforming investments, or products that nobody needs or wants.

March 21, 2014 - Posted by | Finance | , , ,

1 Comment »

  1. Excellent news for everyone – especially all of us “early adopters”!

    Comment by Anon | March 21, 2014 | Reply

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